MONEY MARKET.
sTorK E ICUANOV. Pains, AFTER:WM,.
The business done in the English Funds this week, has been almost entirely
confined to money investments ; by which, in the aggregate, a considerable quantity of Stock has been absorbed. The fluctuations have not exceeded A let cent. ; and most ut the current descriptions of Stock arc to-day at the highe,t prices at nIc cur they have stood since our last report. Bank Stock, which has been at I 7.-0, is to-day quoted at 175 ; while India has ranged from 250 to 2:it The pr, admit oven Exchequer Bills has been nearly stationary ; the extrioni:s at di hick business has been done having been 21s. andp-ts. : the price tool :y is gls. to 2 fir. It has from time immemorial been the custom of the Wink of England to ,irant powers of attorney, to he executed by persons residintr in the Colonies or In foreign countries, 'tie"' amtamped paper; si that, although a power of attorney tbr the receipt of Dividends or sale of Stock granted by aperson residing in Great Britain, was chargeable with a stamp of I/. in addition to the Bank-ke of Is. Cat, making in all 1/. Is. till., the document has hitherto always been made out at the Bank for Is. Gil. only, when the person granting it has resided abroad. It appears, however, that all parties concerned have been acting under a misapprehension of the law, and that all powers of attor- ney mit!ht to be stamped with a U. stamp. The Bank Directors have there- tore determined to call upon the present holders of unstamped powers of at- torney to have them duly Annum!, and not to permit any tutu re transfer of Meek to be made or dividends received unless on the authority of stamped di:comet:ie. The rule in ell:esti:al was first acted yesterday; when a broker, upon going to the Bank to make a transti.r under an old unstamped power of attorney, was informed that the transfer could not be completed until the doenment should be stamped ; and was compelled. in order to get through the business, to submit to the payment of the I/. required fbr suds stamping. We are not aware to whom the merit of this discovery is attri- butable' or whether in fact this new interpretation of the Stamp Act be correct : we think, however, t hat a more formal notice should have been given of the change and we trust that the Directors will without loss of time apply for an Act of Parliament to legalise all transfers hitherto made under unstamped rowers of attethey, which, in a technical point of view, cannot, we should nimble. he tilt ugether safe until so legalized. The Foreio Market has net exhibited mach more activity than the English: neither have the fluctuations in any description of Stock lieen more extensive. All the Northern European Stocks continue firm ; and Dutch Bonds are to-day' at a slight advance, the Two-and-a-half per Cents. being at 534, and the Fiu:e. per Cents. at IIIU. The South American Storks do not exhibit any fluctuation, and the prices of all of them are to-day nearly the sauce as those of the last week.
Spanish ::leek lee. alto been unusually steady, and the business transacted in it unimportant : the extreme prices nay be cited as 254 and 29; : to which hitter price they cc ere tbrceil on Wednesday afternoon by a rumour of a rise of I per cent. in the Active Stock in Paris ; and although this rumour was un- finnaled, the higher quotation was supported during the whole of yesterday. The market has given way to-day ; and after being at dq, closes at 2S1. The Portuguese li;•eurities are (wavy ; and though t he intelligence brought by the 1.isbott mail on Tuesday was t4vourable, the mires of the Bonds have de- clined. The Fire per Cents. (Regency) have been 4 per cent. below the price of Saturday last—viz. at The 'Three per Cents. and Five per Cents. (15:37) have fallen nearly in the same degree. There has since been a slight improvement in the market ; and the prices of to-day are from to 7 en ad- vanre of the lowest ynotations. The principal lI iilccay Shares, which are the objects of attention to the speculators, are all from 11. to :3/. higher than last week ; and the demand far them is steady, though not very brisk. SATUROAr. TWELVia There has been but little business dolmg. during the early part of the morn- ing, and the prices of every description of English Stock were ti!I a few mo- ments ago at the same prices as yesterday. A decline has, however, since taken place in the Reduced Three-and-a-half per Cents. and New Three- Rud- a-half per Cents, which have fallen per cent. Consols are also . per cent. lower, the price tin' Minicy being 90A 4, and that for Account 904 a. It is reported that late intelligence ut' an unfavourable nature has been received from
America. In the Foreign Market there in not any variation, and the prices are the same as yesterday; as are also the Railway Shares.
3 per Cent. Consols Ditto for Account 3 per Cent. Reduced 34 per Cent. Ditto New 31 per Cents Bank Stock 175 t Exchequer Bills ..., 22 24 pm. India Stock 250 I Brazilian 5 per Cents 751 61 901 1 Belgian Stier Cents. 1041 St 901 I Columbian 6 per Cents 25 I
891 1 Danish 3 per Cents 77f 8 981 t Dutch 21 per Cents 531 1
991 1 Portuguese Regency Spec Cis 35k 1 Ditto 3 per Cents 2411 1 Rossi:tit 5 per Cents 113 114 Spanish (Active) 281 9
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